How To Evaluate A Niche
by Fred Horstman January 29, 2014
You have probably heard of just how profitable “desperate markets” are and there’s a good reason for this. Markets that are considered desperate are not only easier to target but easier to sell to.
What do we mean by “desperate”? Someone who is desperate to get rid of their acne quickly, a mother frustrated by not being able to potty train her toddler, a guy who will do anything to win his ex back; these are all in desperate need of something. When need is there, rather than just desire, you’ve got a winning niche. Combine that with a laser targeted campaign that provides a solution to their problem and you’ll never struggle to make money again.
The best place to start with finding a good desperate niche is to use minor keyword research to find what people want to fix. You don’t need to use any high-priced tools, just searching in any browser will do, or you can use Google Suggest.
Whenever you search for something with Google, it will give you suggestions as you type for related keywords. This is one very easy way to find some potentially desperate niches.
To see what’s really popular right now for the niches, you should search for these quoted phrases: “how do I stop”, “get rid of”, “how to get rid of”, and “how to cure”. These are a few good starting points. Once you have a list of potential markets, you can use them as the basis for your keyword research by using them as your seed keyword.
What you want to look for are niches in which the average user has a problem that they are extremely desperate to solve and will do almost anything to fix. Examples of such niches include: Weight Loss, Acne, Pain Management, Sleep Disorders, and Pest Control. When people have problems like these, they are willing to spend almost any amount of money to solve their problem.
One of the most important things you can do is first evaluate and identify niche markets that include these three major elements:
1) You can easily identify exactly who your audience is.
2) There are motivated, active buyers in the niche market.
3) You are able to get your marketing message across to your audience.
There’s no sense in trying to find an untapped niche market. There are few of them out there and those that exist would take a lot of work in order to penetrate. In an untapped market you would have to condition buyers, research angles, and test out different campaigns and approaches before you could determine what was successful.
Forget about that! It’s always easier to make money in niches that are already proven to be profitable, and that is what you need to focus on. You always want to conduct as much research about your markets as possible so that you can really understand what your target audience is interested in and create compelling campaigns that speak your target market’s language.
You will want to know these things:
– What people are currently buying
– Where there are any potential market gaps for products you can promote (or create!)
– How much of a demand exists in the market
– What your customer base is most interested in, concerned with, and/or needing help with.
In other words, pay attention to who you are selling to before you determine what you are going to sell and your campaigns will be successful.
Another way to find desperate niches is through sites like Yahoo Answers. You can browse the site to find people who have questions. If you are interested in something specific, use the categories to browse, or search for particular niches. The Yahoo Answers site can be a goldmine for locating desperate niches, because people who take the time to post there are already desperately seeking help for their situation.
These are not the only places to find niches. Don’t overlook other resources for finding hot niche markets including Magazine.com, Amazon.com, Pulse.eBay.com and through digital marketplaces such as Clickbank.com.
One last suggestion: Don’t forget to write all the information you collect and the niches you find in a paper notebook so you can refer to it in the future when you are thinking about building another site or targeting another market. A paper notebook can be read anywhere. Sometimes you can not be connected or your batteries are dead. It is always good to have something to fall back on. It is called Old School.